Absci (NASDAQ:ABSI) Given Buy Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Absci (NASDAQ:ABSI) in a research report released on Friday morning,Benzinga reports. They currently have a $7.00 target price on the stock.

Several other analysts have also recently issued reports on the company. Guggenheim reissued a “buy” rating and issued a $10.00 target price on shares of Absci in a research note on Tuesday, December 3rd. KeyCorp cut their price objective on Absci from $6.00 to $5.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $8.50.

Absci Price Performance

ABSI opened at $2.90 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63. Absci has a 1 year low of $2.45 and a 1 year high of $6.72. The stock’s 50 day simple moving average is $3.07 and its 200 day simple moving average is $3.67. The firm has a market cap of $333.09 million, a price-to-earnings ratio of -3.12 and a beta of 2.04.

Absci (NASDAQ:ABSI) last issued its earnings results on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The firm had revenue of $1.70 million during the quarter, compared to analysts’ expectations of $1.77 million. Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. During the same period in the previous year, the firm earned ($0.24) earnings per share. As a group, analysts predict that Absci will post -0.9 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ABSI. SG Americas Securities LLC purchased a new position in shares of Absci in the 4th quarter valued at approximately $111,000. Alpha Cubed Investments LLC bought a new position in Absci in the fourth quarter worth $26,000. Ballentine Partners LLC purchased a new position in Absci during the fourth quarter valued at $27,000. PCA Investment Advisory Services Inc. bought a new stake in shares of Absci during the 4th quarter valued at $26,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Absci by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 49,379 shares of the company’s stock worth $189,000 after acquiring an additional 6,409 shares in the last quarter. Hedge funds and other institutional investors own 52.05% of the company’s stock.

Absci Company Profile

Absci Corporation operates as a data-first generative artificial intelligence (AI) drug creation company in the United States. The company combines AI with scalable wet lab technologies to create biologics for patients. Its integrated drug creation platform is designed to improve upon traditional biologic drug discovery by using AI to simultaneously optimize multiple drug characteristics that may be important to development and therapeutic benefit.